BANGKOK — Asian shares were mixed on Monday after U.S. stocks rose to records to close out their latest winning week. U.S. futures also were mixed and oil prices climbed.
Given that the main constrain is weak demand, the “heavy lifting” will have to come from government spending, Zichun Huang of Capital Economics said in a report. China's Finance Ministry has pledged to ramp up such outlays in coming months, “However, we are still skeptical that fiscal easing will be large enough to deliver anything more than a modest and short-lived pick-up in activity.”
The dollar rose to 149.78 Japanese yen from 149.57 yen late Friday. The yen has weakened recently on expectations that the pace of interest rate hikes by the Bank of Japan may be slower than earlier thought.On Friday, Wall Street logged more records.Trading overall on Wall Street remained relatively calm, as the S&P 500 closed its sixth straight winning week. That’s its longest such winning streak of 2024.
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